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Politecnico di Milano

Dipartimento di Ingegneria Gestionale

P.zza Leonardo da Vinci 32 - 20133 - Milano

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Fabio Pammolli

Full Professor, Economics and Management, Politecnico di Milano.


Via Lambruschini 4/B

Building BL27

20156 Milano



From December 6, 2016 - onwards: Professor of Economics and Management at Politecnico di Milano.

From 2004 – onwards: Research Fellow at the Department of Physics, Center for Polymer Studies, at Boston University, Boston US: main focus on economic and industrial growth, network theory (ref. H.E. Stanley, S. Buldyrev).

From November 2015 - onwards: Member of the Investment Committee of the European Fund for Strategic Investments (EFSI) at the European Investment Bank, Luxembourg. The Investment Committee is responsible for examining potential projects in line with the EFSI investment policies and for approving the support of the EU guarantee for EIB operations, in the context of the so-called Juncker Plan.

From November 2016 – onwards: Member, Board of Experts, Programme Casa Italia, launched by the Italian Government.

From November 2004 to December 5, 2016: Professor of Economics and Management at IMT (Institutions, Markets, Technologies) Institute for Advanced Studies Lucca, where he served as the Founding Director of the School, from 2004 to 2012. While at IMT he launched and directed the Ph.D. in Economics, Management, and Data Sciences, a multidisciplinary program focused on the development and application of analytical techniques in economics and management science.

In 2016 he served as senior scientist at IIT, the Italian Institute of Technology in the context of the Human Technopole Project, contributing to its design and coordinating the set up of a research centre on socio economic analysis and translational modelling.

In his research, Pammolli combines different methodologies to cover a variety of topics in economics and management of innovation, management analytics, the economics of health and pensions, and the analysis of growth, diversification, and instability of industrial firms.

He is a leading expert in the economic analysis of science and technology policy, as well of biotechnology and pharmaceutical industries. Together with H.E. Stanley, S. Buldyrev, and M. Riccaboni is a coauthor of a book, on growth and instability of industrial firms (‘The Growth of Business Firms’, forthcoming with Cambridge University Press).

From September 2013 to September 2014, Pammolli visited four leading Universities in Europe and in the US. First, he was a Visiting Research Fellow, OFCE (Observatoire Français des Conjonctures Economiques), Sciences Po, Paris, France: main focus on long term projections and policy evaluation in health and pensions as well as on research and evaluation of public policies at large. He was then a Visiting research fellow, STICERD, The London School of Economics, London, UK: main focus on the relationship between specialization, diversification, growth, and instability of economic entities (firms, portfolios, regions, and countries), as well as on the economics of science and technology. In the US, he was a Visiting Scholar at the Department of Economics, Harvard University, Cambridge Ma. US: main focus on business firms growth and on economics of innovation. He was a Visiting Research Fellow at the Laboratory for Information and Decision Systems (LIDS), Massachusetts Institute of Technology, Cambridge Ma. US: main focus: analytical methods for analysis and control of complex sociotechnical systems.

Pammolli served (2004-2012) as the first Director and President of the Executive Council (Board of Directors) of the newly founded IMT Institute for Advanced Studies (, a public Italian graduate school. He managed the startup and establishment of the Institute as one of the five Italian Schools for Advanced Studies, designing the scientific mission of the Institute sand its financial architecture and sustainability. He has mobilized, attracted and managed both public and private investments (about 7 M€ per year as a permanent funding from the State, plus an investment of about 65€M on Campus Facilities and Research/Education Services, from the Lucca Foundation for Research and Higher Education, which he contributed to conceive). As the founding Director of the Institute, he has presided over and directed its establishment as an international research university, which integrates education and research in the multidisciplinary analysis of a variety of socio-economic, engineering, and technological systems. Fabio served coordinating and presiding all the hiring committees for senior and junior faculty members, at the international level, across all the disciplinary fields covered by the Institute, from political economy to comparative law, applied economics, management science, control, statistical physics, computer science, and humanities.

His effort to build IMT as a research university focused in the multidisciplinary analysis of complex social, economic, and industrial systems and on the notion of ‘The Sciences of the Artificial’ (H.A. Simon) was recognized for its relevance and originality in the strategic plan of the new MIT Institute for Data, Systems, and Society (IDSS). Analogously to IMT, IDSS aims to advance education and research in state-of-the-art, analytical methods and to apply these methods to address complex societal challenges in a diverse set of areas such as finance, energy systems, urbanization, social networks, and health. See the Report on the Formation of a New Entity in the Areas of Complex and Socio-technical Systems, Information and Decision Systems, and Statistics (PDF), at

IMT introduced a remarkable innovation in terms of organization of academic research - where critical mass is reached through complementarity and through some broad unifying research themes- as well as of selection and hiring procedures for faculty and students:

( See also

At IMT Lucca Fabio held the Chair of Management Science and Corporate Finance, and he served as the Director of the research unit Axes (Analysis of compleX Economic Systems), coordinating a multidisciplinary team of assistant professors in management science, economics, statistical physics, computer science, and statistics.

From 2012 to 2016, Pammolli served as the scientific coordinator of Crisis Lab@IMT ( a multi year research project funded by the Italian Ministry of Education (Progetti di Rilevanza Nazionale, total funding 6M €) where IMT, in collaboration with the National Council of Research, has created a unique computational infrastructure and data repository to analyze the structure and evolution of a variety of economic systems in finance, energy, urban transport systems, industries and firms, scientific and technological systems, pension and health systems ( ), with a focus on systemic risk, on crisis prediction and management, and on science and technology policy.

In 2011-2012, he served as a member of the High Level Evaluation Committee set up by the Italian Government to perform an impact analysis of Rome’s candidature to organize the 2020 Olympic Games. The Report of the Committee, which covers an in depth analysis of both the micro and the macro economic of the Games, at the local and at the national level, is available at

His 2013 his paper “Is Europe Evolving Toward An Integrated Research Area” in Science, ( deals with Science and Technology Policy in the European Union. The paper has stimulated policy debate on the extent to which Europe can be considered an integrated research system, as well as on the programs that can be implemented to foster the competitiveness of European Science and Technology.

Over time, Pammolli has authored several reports on Science and Technology Policy in the EU, for DG Enterprise (DG Growth); references included in the publications list. In his collaboration with Woody Powell at Stanford University, Fabio has developed a set of original techniques to analyze the competiveness and the specialization profiles of public and private research centers in the Life Sciences (see also F. Pammolli, 2002, "A Comparison of U.S. and European University-Industry Relations in the Life Sciences", with J. Owen-Smith, W.W. Powell, M. Riccaboni, Management Science, 48(1), 24-43).

From November 2001 until November 2004 he served as Full Professor of Economics and Management, University of Florence, Italy, holding the Chair of Economics and Management.

From November 1990 to November 2001 he was Assistant Professor (1990-1996) and then Associate Professor (1996-2004) of Economics and Management, University of Siena, Italy. In Siena he set up the Industrial Liaison Office of the University, defining its architecture and the project evaluation procedures (IP policy, licensing contracts, attraction and evaluation of industrial partners and collaborative projects with industry). Main fields of activity: health and medicine, the life sciences and biotechnology, collaborations with SMEs. From 2001 to 2003 he served as the President of Toscana Life Sciences Science Park Organizing Committee, conceiving and designing the structure of the BioPark, completing its business plan, identifying core infrastructures and technological platforms, and selecting the first cohort of candidate projects. Visit


2016 onwards: Member of the Investment Committee, European Fund for Strategic Investments (EFSI), European Investment Bank, Luxembourg.

2016: senior advisor to the Italian Minister of Education and Research on internationalization of research.

2016: Member of the Selection Committee, Programme for Urban Renewal and Safety of the Suburbs of Metropolitan Cities and Provincial Capitals (Bando DPCM 25th May 2016)

2016 – onwards Member, Board of Experts, Programme Casa Italia, launched by the Italian Government. The Programme represents a long-term coordinated project to enforce policies and principles devoted to investments in seismic upgrading and to give strategic advice on prevention. Casa Italia provides also technical support and guidelines for the reconstruction activities related to recent earthquakes in Italy. The Programme is addressed to several stakeholders, such as environmental and professional associations, business communities, trade unions, voluntary organizations and local public entities.

2014: Member of the European Research Council Starting Grants Committee in economics and management.

From 2012 to 2015: Ministry of Labour and Welfare, Italy: Member of the Expert Committee for the Assessment of Labor Market Reforms. Policy evaluation and impact analysis. Report on the impact of labour market reforms.

From 2011 to 2012: Ministry of Labour and Social Policies and Ministry of Economy and Finance: Member of the Pension Expenditure Assessment Board: Impact analysis and long-term projections for public pensions expenditure. Report on pension expenditure sustainability. Support to the definition of benchmarks allocation and evaluation criteria for regional health care expenditure in Italy.

From 2003 to 2006: WHO (World Health Organization): Member of Commission on Intellectual Property Rights, Innovation and Public Health, with a focus on the assessment and the evaluation of alternative programs to improve access to medicines in Developing Countries, also in collaboration with the World Bank.

In 2006, The Commission on Intellectual Property Rights, Innovation and Public Health published the Report " Public Health, Innovation and Intellectual Property Rights", World Health Organization, Geneva, Switzerland. The report is available at:

From 2001 to 2006: Italian National Institutes of Health: Member of the Scientific Committee. Support to the Executive Council for project evaluation and strategic planning.

From 1998 to 2006: Ministry of Health and Ministry of Economy and Finance: Member of the Committee on Pricing and Reimbursement for Pharmaceutical Products: Impact evaluation, cost benefit analysis, and price negotiations for reimbursement of new pharmaceutical products by the National Healthcare System.


From Nov 1988 to Nov 1991: Allievo del Corso di Perfezionamento in Economics and Management, Sant’Anna School for Advanced Studies, Pisa. Between 1990 and 1991, he spent one year as visiting student and then as a visiting scholar at Northeastern University, Boston, thanks to a NATO/NCR competitive grant.

1987 Laurea Degree in Economics, University of Pisa.

Diploma Liceo Classico N. Machiavelli, Lucca.


Prof. Pammolli is the founding President and Scientific Director of the CERM Foundation (, which since 2002 has produced several contributions in the analysis of the sustainability of the Italian welfare system, with particular reference to health and pensions.

He has coordinated several research projects funded by the EU as well as by national and international agencies, associations, companies, and foundations. He was the originator and the principal investigator of EPRIS (European Pharmaceutical Regulation and Innovation Systems), for which he was awarded a multi year (2000-2009) unrestricted competitive grant by the Merck and Co. Foundation in the US.

He has given talks and invited lectures at, among the others: The Council of Foreign Relations, the Royal Institute of International Affairs, World Economic Forum, The Vatican, NBER, London School of Economics, MIT, Stanford University, Columbia University, Boston University, UC Berkeley, the OECD, The Italian Ministry of Treasury, École des Mines, École Polytechnique, The John’s Hopkins University, the AAAS.

From 2007 to 2009, he served as a member of the EUCAN (Europe and Canada) Advisory Board to the CEO of Pfizer Inc., providing strategic insight and advising on the feasibility and quality of specific programs and initiatives. Other members were Ambassador Richard Gardner, Pat Cox, Paul Adamson, Esko Aho, Pat Cox, Sir Donald Irvine, Otto Graf Lambsdorff, Noëlle Lenoir, Julian Garcia Vargas, Hugo Paemen, Thomas Tindemans, Rob Woznow (Canada).

In the early 2000s he served a member of the Scientific Advisory Board for Research an Innovation in Confindustria, Rome, where he analyzed science and innovation policies.

He is a columnist for La Stampa while in the past his editorials were published on Il Sole 24 Ore (2008-9) and on il Corriere della Sera (2010-2016).


Mother tongue(s) ITALIAN

Other language(s)









PUBLICATIONS (Selected papers)

h-Index Scopus = 21

h-index Google Scholar = 32

1. F. Pammolli, 2017, The growth of business firms: A stochastic framework, Cambridge University Press, )with H.E. Stanley, S. Buldyrev, M. Riccaboni), forthcoming.

2. F. Pammolli, 2016, “Assessing financial distress dependencies in OTC markets: a new approach using Trade Repositories data”, Financial Markets and Portfolio Management, vol 30(4), pp. 397-426. ISSN: 1934-4554, Springer. DOI: 10.1007/s11408-016-0275-7. (with Bonollo M., Crimaldi I., Flori A., Gianfagna L.)

3. F. Pammolli, 2016, “The Accounting Network: how financial institutions react to systemic crisis”, PloS One, 11(10). DOI: (with Puliga M., Flori A., Pappalardo G., Chessa A.)

4. F. Pammolli, 2016, ‘Learning from successes and failures in pharmaceutical R&D’, Journal of Evolutionary Economics, 26, 2, 271-290, with J.Y. Chiou, L. Magazzini, M. Riccaboni.

5. F. Pammolli (with A. Morescalchi, O. Penner, A. Petersen, and M. Riccaboni) “The evolution of networks of innovators within and across borders: Evidence from patent data” Research Policy, 44 (3). 651 - 668. ISSN 0048-7333 (2015)

6. F. Pammolli, 2015, “Systemic risk and banking regulation: Some facts on the new regulatory framework”. Corporate Ownership & Control, 12 (2). pp. 52-63. ISSN 1727 - 9232 (2015) (with M. Bonollo, I. Crimaldi, A. Flori and M. Riccaboni)

7. F. Pammolli, 2014, “Reputation and impact in academic careers”. (with A. Petersen, H.E. Stanley, M. Riccaboni, O. Penner, S. Fortunato, R.K. Pan, K. Kaski), Proceedings of the National Academy of Sciences, 111 (43). pp. 15316-15321. ISSN 1091-6490.

8. F. Pammolli, 2014, “On Innovation, Instability, and Growth. A Review and an Interpretative Framework”. Economia Politica, n. 1. Originally presented at the Fondazione Centesimus Annus - Pro Pontifice, 20th Anniversary International Conference: “Rethinking Solidarity for Employment: The Challenges of the Twenty-First Century”, Rome and The Vatican, May 23-25, 2013.

9. F. Pammolli, 2013, “Is Europe Evolving Toward an Integrated Research Area?” (with A. Chessa, A. Morescalchi, O. Penner, A. Petersen, M. Riccaboni). Science, 339 (6120). pp. 650-651. ISSN 0036-8075 (2013)

10. F. Pammolli, 2013, Evolution of controllability in interbank networks. (with G. Caldarelli, S. Battiston, D. Delpini, M. Riccaboni, G. Gabbi) Nature Scientific Reports, 3 (1626). pp. 1-5. ISSN 2045-2322 (2013)

11. F. Pammolli, 2013, Reconstructing a credit network. (with G. Caldarelli, A. Chessa, D. Delpini, M. Puliga, A. Gabrielli) Nature Physics, 9 (3). pp. 125-126. ISSN 1745-2473 (2013)

12. F. Pammolli, 2012, Persistence and Uncertainty in the Academic Career. Proceedings of the National Academy of Sciences. (with A. M. Petersen, M. Riccaboni, H. E. Stanley), ISSN 1091-6490 (2012)

13. F. Pammolli, 2012, "The Sustainability of European Health Care Systems: Beyond Income and Ageing", (with M. Riccaboni, L. Magazzini), The European Journal of Health Economics, October 2012, Volume 13, Issue 5, pp 623-634

14. F. Pammolli, 2011, “The productivity crisis in pharmaceutical R&D”, (with L. Magazzini, M. Riccaboni), Nature Reviews, vol. 10, 428-43

15. F. Pammolli, 2009, "A Breath of Fresh Air? Firm Types, Scale, Scope and Selection Effects in Drug Development", (with A. Arora, A. Gambardella, L. Magazzini), Management Science, 55(10), 1638-1653

16. F. Pammolli, 2008, "The Size Variance Relationship of Business Firm Growth Rates", (with S.V. Buldyrev, M. Riccaboni, H.E. Stanley, L. Ponta), Proceedings of the National Academy of Sciences, 105(50), 19595-19600

17. Pammolli, Fabio and Growiec, Jakub and Riccaboni, Massimo and Stanley, H. Eugene, 2008, On the size distribution of business firms. Economics Letters, 98 (2). 207 - 212. ISSN 0165-1765.

18. F. Pammolli, 2008, "La Sanità in Italia - Federalismo, regolazione dei mercati, sostenibilità delle finanze pubbliche", (with N. C. Salerno), Il Mulino, Bologna.

19. Pammolli, Fabio and Buldyrev, Sergey V. and Growiec, Jakub and Riccaboni, Massimo and Stanley, H. Eugene, 2007, The Growth of Business Firms: Facts and Theory. Journal of the European Economic Association, 5 (2-3). pp. 574-584. ISSN 1542-4766 .

20. F. Pammolli, C. Cambini, A. Giannaccari, eds., 2007,. Politiche di liberalizzazione e concorrenza in Italia. Proposte di riforma e linee di intervento settoriali. Prismi . Il Mulino, Bologna, pp. 7-26. ISBN 978-88-15-11883-7.

21. Pammolli, Fabio and Bottazzi, Giulio and Secchi, Angelo Growth and diversification patterns of the worldwide pharmaceutical industry. In: Mariana Mazzucato and Giovanni Dosi (eds.). Knowledge accumulation and industry evolution: the case of Pharma-Biotech. Cambridge University Press, pp. 208-233. ISBN 9780521858229 (2006)

22. F. Pammolli, 2005, "The Growth of Business Firms: Theoretical Framework and Empirical Evidence", (with D. Fu, S.V. Buldyrev, M. Riccaboni, K. Yamasaki, K. Matia, H.E. Stanley) Proceedings of the National Academy of Sciences, 102(52), 18801-18806 (cover article)

23. F. Pammolli, 2005, "Medical Devices Competitiveness and Impact on Public Health Expenditure", (with M. Riccaboni, C. Oglialoro, L. Magazzini, N. Salerno, G. Baio), Entreprise Directorate-General, European Commission, Bruxelles.

24. Pammolli, Fabio and Riccaboni, Massimo, 2004, Market Structure And Drug Innovation. Health Affairs, 23 (1). pp. 48-50. ISSN 0278-2715

25. Pammolli, Fabio and McKelvey, Maureen and Orsenigo, Luigi, 2004, Pharmaceuticals Analysed through the Lens of a Sectoral Innovation System. In: Franco Malerba (ed.). Sectoral Systems of Innovation: Concepts, Issues and Analyses of Six Major Sectors in Europe. Cambridge University Press, pp. 73-120. ISBN 9780521833219

26. F. Pammolli, 2002, "Innovation and Competitiveness in European Biotechnology", (with A. Allansdottir, A. Bonaccorsi, A. Gambardella, M. Mariani, L. Orsenigo, , M. Riccaboni), Enterprise Papers n. 7, Enterprise Directorate-General, European Commission, Bruxelles.

27. F. Pammolli, 2003, "Public Research and Industrial Innovation: A comparison of U.S. and European Innovation Systems in the Life Sciences", (with J. Owen-Smith, W.W. Powell, M. Riccaboni), Chap. 10 in A. Geuna, A. Salter, E. Steinmueller, (Eds.), Science and Innovation: Rethinking the Rationales for Funding and Governance, Edward Elgar, Cheltenham

28. F. Pammolli, 2002, "A Comparison of U.S. and European University-Industry Relations in the Life Sciences", (with J. Owen-Smith, W.W. Powell, M. Riccaboni), Management Science, 48(1), 24-43. Also in M. McKelvey & L. Orsenigo (Eds.), The Economics of Biotechnology, Volume II, 342-361, Edward Edgar, Cheltenham

29. Pammolli, Fabio and Fabritiis, G. De and Riccaboni, Massimo, 2003, On Size and growth of business firms. Physica A: Statistical Mechanics and its Applications, 324 (1-2). 38 - 44. ISSN 0378-4371

30. F. Pammolli, 2002, "On Firm Growth in Networks", (with M. Riccaboni), Research Policy, 31(8-9), 1405-1416

31. F. Pammolli, 2001, "Innovation and Corporate Growth in the Evolution of the Drug Industry", (with G. Bottazzi, G. Dosi, M. Lippi, M. Riccaboni), International Journal of Industrial Organization, 19 (7), 1161-1187

32. F. Pammolli, 2001, "Technological Change and Network Dynamics: Lessons from the Pharmaceutical Industry", (with L. Orsenigo, M. Riccaboni), Research Policy, 30(3), 485-508. Also in M. McKelvey & L. Orsenigo (Eds.), The Economics of Biotechnology, Volume II, 172-198, Edward Edgar, Cheltenham, UK

33. F. Pammolli, 2001, "Variety and Irreversibility in Scientific and Technological Systems: the Evolution of an Industry Network", (with L. Orsenigo, M. Riccaboni), in A. Nicita, U. Pagano (Eds.), The Evolution of Economic Diversity, Routledge, London, 216-239.

34. F. Pammolli, 2001, "Global Competitiveness in Pharmaceuticals: A European Perspective" (with A. Gambardella, L. Orsenigo), DG Enterprise, European Commission, 2001.

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